These days, women set out to start their own entrepreneurial venture. If we talk about the U.S. only, more than 7 million employees are working in the organisation and company that run by women. No doubt, female entrepreneurship is flourishing at a surprisingly fantastic rate.
But, when women decide to be their own boss, they face many challenges not just financially but family peer-pressure and all. From the beginning, women meant to offer their services to home only, but the time has changed. Now they are set to break all the barriers which come in between their dreams and goals. However, it isn’t easy for women to step into the corporate world without facing these hindrances. She faces challenges which are different from those that men suffer.
MorningLazziness shows down the five challenges faced by a women-entrepreneur
Lack of Finance: Be it a small or big business; finance is the life-blood for any enterprise. Many women face a shortage of funding on two counts.
First, lack of family support. Most of the parent dont like the idea of being a women entrenepuer. They hesitate to invest their hard-earn money in their daughters/sister business. Moreover, there is not any property under their name which they can put for a loan. Thus, their access to the external sources of funds is limited.
Secondly, if women go to the bank directly and ask for money to start their own business, either they discourage or asked to leave the idea of a woman entrepreneur.
Under these situations, women are bound to rely on their own savings or ask for the loan from friends. Thus, women enterprises fail due to the shortage of finance.
Lack of support from other entrepreneurs:
Being a female entrepreneur has its own advantages and disadvantages. If you think you can rely on other entrepreneurs for help, then at every moment they put you down and may pass rivalry comments. Step into a conference or a meeting, and you can count on your hands the total number of women attending the symposium.
From handling the home to taking care of kids, women play a more significant part when it comes to managing the family. As for working mothers, house and kids are their priority and often asked to leave their careers and pay more attention to family, only. Whereas in the case of men, work is their first responsibility, and then come home and family. However, the situation seems to be changing, and now more men are stepping forward to contribute to household responsibilities.
Lack of education:
According to a UNESCO report, 68% of women population is still below the literacy level. Women entrepreneurs can face many challenges if having less education like when it comes to public speaking or managing business account or something confidential about business. Lack of knowledge may result in a significant loss of the company or even lower down the chances of turning their business into a success.
Being attributed as a corporate success:
The society where we live still distinguished between men and women. According to society men should always be dominant, whether it’s about home or work. What if women become a successful entrepreneur, over time, she has to have to face many hurdles which force her to shut the company.
Though women-led business is becoming more powerful and progressive, the setback always remains there. Every time a female entrepreneur has to face new challenges when they try to do something new.